View Poll Results: Responsible Individual Net Worth to own a $100-$150K Car?
$400K
24
13.87%
$500K
10
5.78%
$700K
11
6.36%
$900K
2
1.16%
$1M +
126
72.83%
Voters: 173. You may not vote on this poll
Responsible Net Worth for Owning a $100K-$150K Car?
03-02-2013, 12:44 PM
#166
Race Car
I have 1 property besides my house. Honestly I know nothing about this stuff but I bought a vacant lot in downtown Tampa thinking I could make a little money on it in 5-10 years. Well that was 7 years ago and I can't sell it for what I paid for it. The only option I think is to build something on it and rent. It's in a neighborhood right off the Hillsboro river and is Zoned commercial. People have taken older houses and turned them into law offices, medical practice or some just fix the old house and live in it. So I could build what ever I wanted....problem is I don't have the money to build anything.
How would I advertise to find someone to build on this property and then we could share the revenue for rental or if the land and building sold we could share that? Is this even doable?
How would I advertise to find someone to build on this property and then we could share the revenue for rental or if the land and building sold we could share that? Is this even doable?
There are any number of ways to work this out. Put up a sign on the property, talk to a commercial broker etc. I used to do commercial real estate 20 years ago for a short while but am out of touch with this. Hopefully someone with more recent experience will chime in. Talk with Peter (85gold) and he may have better advice.
Tal
03-02-2013, 01:37 PM
#168
Rennlist Member
nope. think about it - any industries that are oriented to support aging population are ok.
anything else is most likely unpredictable. so medical, biotech etc areas can be considered safe. combine that with bonds and keep rest 30-40% in game field and it will work.
as of buying houses for real cash and then rely on some return in the form of rent - well, may be it will work long term but i never be able to take such risk. hate to deal with tenants, repairs, evictions, it is not my field.
anything else is most likely unpredictable. so medical, biotech etc areas can be considered safe. combine that with bonds and keep rest 30-40% in game field and it will work.
as of buying houses for real cash and then rely on some return in the form of rent - well, may be it will work long term but i never be able to take such risk. hate to deal with tenants, repairs, evictions, it is not my field.
03-02-2013, 05:49 PM
#169
Drifting
I would've assumed that they would have to compete and just take the margin hit - all banks are desperate to originate loans right now; how much higher, anecdotally? I only know a bit about RE - I work in a different area of finance (IB).
03-02-2013, 05:56 PM
#170
Drifting
small banks are for smaller projects or for lower net worth individuals that get passed over by the big banks. The big banks have a large pool and can diversify as well as sell off their portfolio. Small banks generally keep all loans in house and do not do very large loans. Small banks have to charge more for loans to cover their costs (overhead + cost of money) because of a smaller total $ amount they have out in the world. It is a volume problem. Small banks are more personal and their boards personally approve all loans - and make judgement calls. Not so at a big banks that have systems/metrics that applicants must qualify by.
03-03-2013, 12:18 AM
#171
Instructor
Join Date: Apr 2012
Location: Tampa, FL
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I have 1 property besides my house. Honestly I know nothing about this stuff but I bought a vacant lot in downtown Tampa thinking I could make a little money on it in 5-10 years. Well that was 7 years ago and I can't sell it for what I paid for it. The only option I think is to build something on it and rent. It's in a neighborhood right off the Hillsboro river and is Zoned commercial. People have taken older houses and turned them into law offices, medical practice or some just fix the old house and live in it. So I could build what ever I wanted....problem is I don't have the money to build anything.
How would I advertise to find someone to build on this property and then we could share the revenue for rental or if the land and building sold we could share that? Is this even doable?
How would I advertise to find someone to build on this property and then we could share the revenue for rental or if the land and building sold we could share that? Is this even doable?
03-03-2013, 10:24 AM
#172
Rennlist Member
Mike
There are any number of ways to work this out. Put up a sign on the property, talk to a commercial broker etc. I used to do commercial real estate 20 years ago for a short while but am out of touch with this. Hopefully someone with more recent experience will chime in. Talk with Peter (85gold) and he may have better advice.
Tal
There are any number of ways to work this out. Put up a sign on the property, talk to a commercial broker etc. I used to do commercial real estate 20 years ago for a short while but am out of touch with this. Hopefully someone with more recent experience will chime in. Talk with Peter (85gold) and he may have better advice.
Tal
Mdrums should look for free listing sites etc. and just get it out there, or list it with a broker... If your not trying nobody will notice JMO
03-03-2013, 10:10 PM
#173
Rennlist Member
It's difficult to find a good condo with low hoa, but mine generates positive cash flow. In fact, the hoa is pretty close to the waste/water I pay on my rental house. It helps that I manage myself.
03-03-2013, 10:16 PM
#174
Rennlist Member
The trick is to find new condo infills in nice established hoods. Cash flow may be lower, but its worth dealing with better quality people that actually pay their rent and don't trash your unit. Being new, maintenance is less of a headache.
03-03-2013, 10:29 PM
#175
Drifting
all is great until the HOA raises the condo fee. And then 'special assessment". Total wipeout of your return.
03-04-2013, 02:04 PM
#177
I will only buy property in low tax states (FL), everywhere else I will rent as long as possible, invest the difference as long as possible.
03-05-2013, 02:49 AM
#178
GT3 player par excellence
Lifetime Rennlist
Member
Lifetime Rennlist
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03-05-2013, 03:44 AM
#180
Rennlist Member
Investing is like poker "know when to hold'em or fold'em". I just keep my principal ie my family my house and my car- everything else is a bonus. Mike